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#001 The Dangers of Regret in Investing, the Importance of Thinking for Yourself, and Keeping the Feedback Loop Open

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#001 The Dangers of Regret in Investing, the Importance of Thinking for Yourself, and Keeping the Feedback Loop Open

Faculty Hours: Aswath Damodaran [Part 1]

Mar 05, 2024

Transcript

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Summary

Hi friends, welcome to No Syllabus podcast faculty hours.

Today's guest is Aswath Damodaran a professor of finance at Stern School of Business at New York University, where he teaches corporate finance and equity valuation. You've probably already seen him on CNBC, came across his published work, or even his personal blog Musings on Markets.

Part 1

In part one of our conversation, we cover:

dealing with being wrong publicly
the dangers of regret in investing
the importance of thinking for yourself when it comes to investing and life
Keeping the Feedback Loop Open
Plus various topics.

Hopefully, you'll find the content entertaining, insightful, and inspiring. Thank you for tuning in and let's jump right into it.

Detailed Show Notes

In this conversation, Professor Aswath Damodaran discusses the challenges of being wrong publicly and the importance of transparency in investing.

He emphasizes the need to think independently and not rely solely on the opinions of others. Damodaran also explores the role of conviction and self-doubt in investing, and the dangers of dogma.

He highlights the value of narratives and stories in understanding companies and the importance of keeping the feedback loop open.

Finally, he discusses how life itself can be viewed through the lens of valuation. In this conversation, Aswath Damodaran discusses the importance of maximizing happiness over income and the role of money in our lives.

He shares his journey of choosing teaching as a career and the moment of grace that led him to become a teacher. Prof.Damodaran emphasizes the need to find your endgame in life and make choices that align with it.

He also highlights the importance of staying disciplined in both life and investing, avoiding distractions, and making decisions based on data.

Prof.Damodaran provides information on where listeners can find his work.

Thank you for reading NSP Diary. This post is public so feel free to share it.

Being wrong publicly is a natural part of investing, and it is important to be transparent about mistakes.
Independent thinking is crucial in investing, and it is important to question and evaluate your own beliefs and assumptions.
Conviction is necessary to make investment decisions, but it should be accompanied by self-doubt and a willingness to consider alternative viewpoints.
Valuation is not just about numbers, but also about understanding the narratives and stories behind companies.
Keeping the feedback loop open and listening to different perspectives is essential for growth and improvement as an investor. Maximizing happiness is more important than maximizing income.
Choosing a career that aligns with your passion and brings you joy is crucial.
Find your endgame in life and make choices that lead you towards it.
Staying disciplined in life and investing is essential for success.

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